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Banking Average Salaries in Mozambique 2022

How much money does a person working in Banking make in Mozambique?


Average Monthly Salary
43,700 MZN
( 525,000 MZN yearly)

LOW
13,800
MZN
AVERAGE
43,700
MZN
HIGH
89,700
MZN

A person working in Banking in Mozambique typically earns around 43,700 MZN per month. Salaries range from 13,800 MZN (lowest average) to 89,700 MZN (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst63,500 MZN
Assistant Bank Branch Manager50,500 MZN
Assistant Bank Manager67,800 MZN
ATM Manager60,000 MZN
ATM Service Technician15,700 MZN
Bank Accounts Analyst22,600 MZN
Bank Accounts Controller31,000 MZN
Bank Accounts Executive43,600 MZN
Bank Accounts Manager53,000 MZN
Bank Auditing Manager53,000 MZN
Bank Branch Manager72,600 MZN
Bank Clerk14,300 MZN
Bank Compliance Specialist37,200 MZN
Bank Manager83,400 MZN
Bank Operational Risk Manager84,800 MZN
Bank Operations Head85,700 MZN
Bank Operations Officer34,100 MZN
Bank Operations Specialist54,600 MZN
Bank Process Manager49,100 MZN
Bank Product Manager 57,100 MZN
Bank Programme Manager55,100 MZN
Bank Project Manager69,500 MZN
Bank Propositions Manager62,800 MZN
Bank Quantitative Analyst40,900 MZN
Bank Regional Manager85,700 MZN
Bank Regional Risk Officer45,800 MZN
Bank Relationship Manager65,800 MZN
Bank Relationship Officer30,200 MZN
Banker30,200 MZN
Banking Business Analyst44,600 MZN
Banking Business Development Officer27,500 MZN
Banking Business Planning Executive64,300 MZN
Banking Product Manager55,500 MZN
Banking Reference Data Manager49,000 MZN
Banking Risk Analyst44,800 MZN
Banking Technical Analyst24,000 MZN
Bankruptcy Coordinator30,800 MZN
Budget Analyst43,600 MZN
Cards Marketing Manager53,300 MZN
Cash Management Manager80,500 MZN
Check Processing Manager56,500 MZN
Commercial Vault Associate44,600 MZN
Corporate Dealer43,800 MZN
Credit Analyst35,300 MZN
Credit and Collections Manager58,200 MZN
Credit Card Fraud Investigator46,700 MZN
Credit Portfolio Manager78,700 MZN
Credit Risk Analyst49,500 MZN
Credit Risk Associate46,200 MZN
Direct Bank Sales Representative30,400 MZN
Financial Bank Planning Consultant58,200 MZN
Financial Banking Analysis Manager62,700 MZN
Financial Banking Assistant21,300 MZN
Financial Banking Systems Manager57,700 MZN
Foreign Exchange Manager64,700 MZN
Fraud Analyst47,000 MZN
Fraud Detection Associate30,400 MZN
Fraud Detection Manager70,700 MZN
Fraud Detection Supervisor38,500 MZN
Internal Bank Audit Manager79,800 MZN
Internal Bank Auditor44,400 MZN
International Banking Manager89,100 MZN
Loan Analyst42,500 MZN
Loan Area Manager54,900 MZN
Loan Audit Team Leader51,400 MZN
Loan Branch Manager48,300 MZN
Loan Business Development Officer27,300 MZN
Loan Clerk15,100 MZN
Loan Collection Manager53,700 MZN
Loan Collector14,600 MZN
Loan Examiner18,400 MZN
Loan Processing Manager47,600 MZN
Loan Processor18,800 MZN
Loan Quality Assurance Auditor44,500 MZN
Loan Quality Assurance Manager51,800 MZN
Loan Quality Assurance Representative32,800 MZN
Loan Review Manager51,800 MZN
Loan Team Leader43,900 MZN
Mortgage Advisor31,600 MZN
Mortgage Collection Manager50,600 MZN
Mortgage Collector14,800 MZN
Mortgage Credit Analyst22,800 MZN
Mortgage Credit Manager50,300 MZN
Mortgage Development Manager54,700 MZN
Mortgage Document Reviewer19,500 MZN
Mortgage Funding Manager54,900 MZN
Mortgage Operations Manager76,000 MZN
Mortgage Payment Processing Clerk17,600 MZN
Mortgage Processing Manager50,900 MZN
Mortgage Processor18,900 MZN
Mortgage Quality Assurance Auditor43,200 MZN
Mortgage Quality Assurance Manager51,700 MZN
Mortgage Servicing Clerk15,400 MZN
Mortgage Servicing Manager46,200 MZN
Mortgage Underwriter18,300 MZN
Online Banking Manager79,300 MZN
Payment Processing Clerk15,400 MZN
Personal Banker30,300 MZN
Personal Banking Advisor 31,500 MZN
Phone Banker21,000 MZN
Private Banker32,800 MZN
Reconciliation and Investigation Specialist35,500 MZN
Teller14,600 MZN
Trade Officer18,800 MZN
Trade Product Manager51,200 MZN
Trader22,400 MZN
Treasury Operations Officer38,900 MZN

Banking Jobs Salary Distribution in Mozambique

Median and salary distribution monthly Mozambique Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Mozambique range from 13,800 MZN per month (minimum average salary) to 89,700 MZN per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 42,000 MZN per month, which means that half (50%) of people working in Banking are earning less than 42,000 MZN while the other half are earning more than 42,000 MZN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 25,100 MZN while 75% of them are earning more than 25,100 MZN. Also from the diagram, 75% of people working in Banking are earning less than 63,200 MZN while 25% are earning more than 63,200 MZN.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Mozambique costs anywhere from 201,000 Metical(s) to 603,000 Metical(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Mozambique Banking
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Mozambique who work in Banking earn 10% more than their female counterparts on average.

Male
46,300 MZN
Female-9%
42,000 MZN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Mozambique for all Careers

Salary comparison by gender monthly Mozambique
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Banking Average Annual Salary Increment Percentage in Mozambique

How much are annual salary increments in Mozambique for Banking professionals? How often do employees get salary raises?

Banking

Banking professionals in Mozambique are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Mozambique Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Mozambique / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Mozambique is 2%.

Annual Increment Rate By Industry 2021

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Listed above are the average annual increase rates for each industry in Mozambique for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Mozambique

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Mozambique Banking
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Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

42% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 58% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
58%
No Bonus
42%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Banking Hourly Average Wage in Mozambique


250 MZN per hour

The average hourly wage (pay per hour) in Mozambique is 250 MZN. This means that the average person in Mozambique earns approximately 250 MZN for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Mozambique
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Beira44,400 MZN
Maputo50,100 MZN
Matola47,900 MZN
Nampula39,200 MZN

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Mozambique earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
38,200 MZN
Public Sector+14%
43,400 MZN
Percentage increase and decrease are relative to the previous value

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